The March quarter results posted by midcap information technology (IT) companies were a mixed bag. While Hexaware Technologies, Polaris Software and Firstsource (FSL) posted good results, Mindtree and Sasken Communications were bogged by client-specific issues.

Going ahead, FSL and Polaris are expected to clock higher revenue growth on the back of robust banking, financial services and insurance (BFSI) demand. Further, Hexaware is best placed to gain from the uptick in discretionary spending, which forms 42 per cent of its revenues. Though Mindtree�s research and development segment continues to be a drag, growth in IT services is healthy.

Hexaware and Polaris expect strong revenue growth, of 27.5 per cent and 22-25 per cent, respectively, for the year. They�re also confident of sustaining margins at current levels. The FSL management commented on increased momentum in revenue growth and expects margin expansion to continue. The MindTree management was confident of 2011-12 revenue growth at 16-18 per cent.